The global agriculture technology market size was valued at USD x.xx billion in the historical year 2017 and is anticipated to reach USD x.xx billion by the end of 2025, rising at a compound annual growth rate of x.x% over the forecast spell (2018-2025). Some of the major factors driving the agriculture technology market growth include rising inclination towards technologies in agriculture, increasing need for monitoring livestock performance as well as health, government’s provision for the adoption of modern techniques for agriculture and increasing population & urbanization. On the other hand, deteriorating economic growth and ecological changes in several regions are some of the factors that can restraint the markets growth over the forecast period.
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The global agriculture technology market has been segmented by different agriculture types, offerings, applications and geography. Further, agriculture type segment of the market has been sub-segmented into precision farming, livestock monitoring, fish farming, smart greenhouses and others (orchid, forestry & horticulture). Precision farming agriculture type led the market with highest share owing to increasing adoption of precision agriculture technologies including remote sensing, positioning systems, guidance system as well as flexible rate technology by farmers across the world.
Likewise, offerings segment has been bifurcated into hardware, software and services. Hardware division of the segment dominated market in the historical year (2017) because of the rising adoption of automation as well as remote devices, like GPS/GNSS, drones/UAVs irrigation controllers, yield monitors, guidance & steering systems and sensors. Application segment is also divided into precision farming applications, livestock monitoring applications, fish farming applications, smart greenhouse applications and others.
Geographically North America led the global agriculture technology market with highest share, as several countries in the region such as the United States and Canada are the primary adopters of agriculture technologies.
Key players in the competitive landscape of agriculture technology market across the globe include (Trimble) (US), Deere & Company (US), Raven Industries (US), AGCO (US), AgJunction (US), AG Leader Technology (US), GEA Group (Germany), DeLaval (Sweden), Precision Planting (US), Teejet Technologies (US), SST Development Group (US), Topcon Positioning Systems (US), CropMetrics (US), DICKEY-john Corporation (US), Agribotix (US), ec2ce (Spain), The Climate Corporation (US), Gamaya (Switzerland), Descartes Labs (US), Granular (US), Autonomous Tractor Corporation (US), Prospera Technologies (Israel), Decisive Farming (Canada), Autocopter Corp (US) and Hexagon Agriculture (Brazil). Some of the major players in the market adopted for several strategies including mergers, partnerships, collaborations, expansions and new product developments in order to satisfy their customer demands.
What to expect from the upcoming report on ‘Global Agriculture Technology Market’:
- Analyzes about future prospects as well as global agriculture technology market trends market over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including agriculture types, offerings, applications and geographical regions.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
- Value Chain and Sales Channels Analysis
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